|
Fees: |
A processing fee of 0.5% of the loan
amount applied for i.e. Rs. 5 per Rs. 1000 of the loan applied for is payable when the
application form is submitted to HDFC. This fee is in respect of costs incidental to the
application.
For example, |
Loan applied for |
Fees |
Rs. 20,000
Rs. 1,00,000 |
Rs.
100
Rs. 500 |
|
On approval of
the loan, a loan offer is made to you. On acceptance of the offer, you will have to pay an
administrative fee of 0.5% of the loan approved. You can also pay the processing and
administrative fees upfront i.e. 1% of the loan at the time of submission of the loan
application itself.
Rate of Interest:
The current applicable fixed rate of interest in respect of the total loan approved is are
as follows:
For loans upto Rs.2,00,000 |
Term of Loan (No. of Years) |
Rate Per Annum |
5
10
15 |
10.25%
11.25%
11.50% |
|
For loans greater than
Rs.2,00,000 |
Term of Loan (No. of Years) |
Rate Per Annum |
5
10
15 |
10.25%
11.75%
12.00% |
|
Interest Rates are calculated
on an annual rest basis.
You repay the loan in Equated Monthly Instalments (EMIs) comprising principal and
interest.
EMI per Rs.1,00,000 (for loan upto Rs.2,00,000) |
Term of Loan (No. of Years) |
Rupees |
5
10
15 |
2213
1430
1192 |
|
EMI per Rs.1,00,000 (for loan
greater than Rs.2,00,000) |
Term of Loan (No. of Years) |
Rupees |
5
10
15 |
2213
1460
1224 |
|
Pending final disbursement, you pay
interest on the portion of the loan disbursed. This interest is called pre-EMI interest.
An early redemption charge of 2% of the amount being prepaid is payable on repayment of a
loan ahead of schedule.
The interest rate on your ARHL is linked to HDFC's Retail Prime Lending Rate (RPLR). The
rate of interest is revised every six months from the date of first disbursement, if there
is a change in RPLR. However, the EMI on the ARHL will not change. For instance, if the
interest rate increases, the interest component in EMI will increase; the principal
component would reduce, resulting in an extension of the term of the loan and vice-versa
when the interest rate decreases. You will be provided with an annual statement indicating
the details of the interest and principal payments made during the year. The current
applicable rate of interest in respect of the total loan approved is 12.00% per annum.
|
|
